Yunqi Capital Ltd Invests $10.99 Million in PDD Holdings Inc. Sponsored ADR $PDD

Yunqi Capital Ltd purchased a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 105,000 shares of the company’s stock, valued at approximately $10,989,000. PDD accounts for approximately 7.8% of Yunqi Capital Ltd’s investment portfolio, making the stock its 5th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in PDD by 20.3% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,439 shares of the company’s stock worth $6,221,000 after acquiring an additional 10,036 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of PDD by 4,562.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company’s stock valued at $1,706,527,000 after acquiring an additional 14,110,042 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in shares of PDD by 54.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 26,216 shares of the company’s stock worth $3,103,000 after buying an additional 9,206 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in PDD by 53.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 7,394,211 shares of the company’s stock valued at $773,878,000 after acquiring an additional 2,573,065 shares during the last quarter. Finally, Banco BTG Pactual S.A. purchased a new position in PDD during the 1st quarter valued at about $537,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PDD. Citigroup reiterated a “buy” rating on shares of PDD in a report on Monday, August 25th. Barclays boosted their target price on shares of PDD from $158.00 to $165.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. New Street Research lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $120.00 price target on the stock. in a report on Tuesday, August 26th. Finally, Jefferies Financial Group set a $146.00 price objective on PDD and gave the stock a “buy” rating in a report on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $137.82.

PDD Trading Down 0.7%

Shares of NASDAQ PDD opened at $135.78 on Friday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41. The company has a market cap of $189.03 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.62 and a beta of 0.47. The stock has a fifty day moving average price of $130.56 and a 200 day moving average price of $117.02.

PDD Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.